Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: What's up?
Speaker 3: Chris's Joe?
Speaker 2: Hi? How are you today? Hey Chris?
Speaker 1: How's it going? By?
Speaker 2: Tracy? How are you today?
Speaker 1: I'm good? Thank you. I'm sorry we kept you waiting.
Speaker 1: I saw your tweet, No problem whatsoever.
Speaker 2: I was just giving you guys a hard time.
Speaker 3: So Tracy, we're back with our favorite Dutch bros. Brow
Speaker 3: the brow of the Brow of Dutch Bros.
Speaker 4: I did a deadlift one two, Jimmy, Okay, what's.
Speaker 2: Uh?
Speaker 1: Marges?
Speaker 3: This isn't After School Special, except.
Speaker 1: I've decided I'm going to base my entire personality going
Speaker 1: forward on campaigning for a strategic pork reserve in the US.
Speaker 4: Where's the best with imposta?
Speaker 1: These are the important question? Is it robots taking over
Speaker 1: the world?
Speaker 2: No?
Speaker 3: I think that like in a couple of years, the
Speaker 3: AI will do a really good job of making the
Speaker 3: Odd Lots podcast and people Today, I don't really need
Speaker 3: to listen to Joe and Tracy anymore.
Speaker 4: We do have.
Speaker 3: The perfect welcome to lots More where we catch up
Speaker 3: with friends about what's going on.
Speaker 1: Right now, because even when Odd Lots is over, there's
Speaker 1: always lots More.
Speaker 3: And we really do have the perfect guest, Chris Hatch.
Speaker 3: We talked to him several weeks ago about opening up
Speaker 3: drive throughs. But Chris, what are you up to these days?
Speaker 2: Yeah, just continue to try and build buildings and figure
Speaker 2: out how to get some of the stuff out of
Speaker 2: the ground and get these projects built and constructed. It
Speaker 2: seems like it just grows harder every day, more and
Speaker 2: more challenges.
Speaker 3: So yeah, So, Tracy, We've talked about like almost every
Speaker 3: supply chain crisis under the sun over the last three years.
Speaker 3: But there's one thing it's been in shortage for forty
Speaker 3: two straight months according to the ISM, and that is
Speaker 3: electrical transformers and parts. We've never talked about that.
Speaker 1: You finally get to do your Transformer episode.
Speaker 2: Chris, what's your Transformer in the electrical Sorry, I guess
Speaker 2: I have a six year old son and you talk
Speaker 2: about Optimus Prime.
Speaker 4: Yeah, yeah, or basically not.
Speaker 2: Stop at my household?
Speaker 1: Yeah, I know them.
Speaker 3: Well, what does it mean when you're trying to build
Speaker 3: a new Starbucks or Dutch Bros. Location off the side
Speaker 3: of a highway in Texas?
Speaker 2: Let's use Utah if that's okay, And mostly just because
Speaker 2: it's easier. There's less power companies in Utah. So starting
Speaker 2: with Rocky Mountain Power, who supplies the power for probably
Speaker 2: eighty percent of the state of Utah. There are a
Speaker 2: few cities that have the power company. There's a different
Speaker 2: power company Southern Utah. You have kind of the main grid,
Speaker 2: So think of that as like, you know, basically the
Speaker 2: main power supply that's going into a huge city. And
Speaker 2: so once you come off of the grid, the first
Speaker 2: place the electric comes to is a transformer that sits
Speaker 2: on your site. And the easiest way to think of
Speaker 2: it is this is kind of it's a green typically
Speaker 2: or blue or some kind of kind of darker landscape
Speaker 2: colored cabinet that sits in the landscaping area somewhere. It's
Speaker 2: usually two or three feet tall, maybe sometimes four or
Speaker 2: five feet tall, about three or four feet square, and
Speaker 2: that's where the power comes in from the power grid
Speaker 2: to your site. So that is transfer. Got it.
Speaker 1: So Joe finally gets his transformer episode. I think he's
Speaker 1: been tweeting like religiously every time the ISM survey comes
Speaker 1: out where they're talking about the shortage. But is it
Speaker 1: at all common for transformers to go through periods of
Speaker 1: scarcity or has what we've seen over the past couple
Speaker 1: of years now been unusual.
Speaker 2: Yeah, that's a great question. Definitely, during the kind of
Speaker 2: over the last four years, let's just call it kind
Speaker 2: of the post COVID world, we've definitely seen some real
Speaker 2: strains on the supply of transformers into the world. At
Speaker 2: the moment, with at least the type of buildings that
Speaker 2: I'm building, the transformers actually aren't the longest lead supply item,
Speaker 2: So that's the first step of where the power comes
Speaker 2: off of the line, and it's actually the switch gear
Speaker 2: that's the problem right now today is that there's these
Speaker 2: massive delays with switch gear that are going in the
Speaker 2: United States right now.
Speaker 3: What's switch gear?
Speaker 2: So power comes in from the grid to the transformer,
Speaker 2: from the transformer to the meter, which makes sense, that's
Speaker 2: that's what the power company comes and reads to determine
Speaker 2: how much power you use in a month, and then
Speaker 2: from the meter it goes to the switch gear. The
Speaker 2: switch gear is where the power comes to your building.
Speaker 2: So this is usually cabinatry that sits flush or on
Speaker 2: the back of the building or one of the sides
Speaker 2: of the building most of the time. And that is
Speaker 2: in the example that I've got of a building that
Speaker 2: we are done building the building in West Valley City, Utah.
Speaker 2: I need a sixteen hundred amp switch gear piece so
Speaker 2: that electrical supply is enough to power sixteen hundred amps
Speaker 2: going into the building. So from the switch gear, then
Speaker 2: the power gets distributed to the pan in each individual
Speaker 2: tenant space.
Speaker 1: Wait, so when we say there's a shortage of transformers
Speaker 1: or switch gears or whatever, what do we actually mean
Speaker 1: here is that you can't get them. So the problem
Speaker 1: is your lead times expand, or the problem is there
Speaker 1: are enough of them to satisfy demand, and so prices
Speaker 1: go up, maybe to a prohibitive point.
Speaker 2: Maybe To start with my specific example, I originally ordered
Speaker 2: my switch gear a year ago, April of twenty twenty three.
Speaker 2: I was told that there was a one year lead time,
Speaker 2: which felt like an exorbitantly long time. That's longer than
Speaker 2: you know, the lead times kind of we're building over
Speaker 2: the last three or four years. But that was the
Speaker 2: longest we had heard up to that point. So we
Speaker 2: set a schedule with my contractor to have the building
Speaker 2: more or less complete right in April of twenty twenty four,
Speaker 2: so that the switch gear would then arrive and we
Speaker 2: could power up the building and then the tenants could
Speaker 2: step in and do their individual build out. The problem
Speaker 2: is that four weeks ago, for the first time, the
Speaker 2: supply house called my electrician, who called my general contractor,
Speaker 2: who called me and said it might be up to
Speaker 2: one more year.
Speaker 4: What does that cost you? Yeah, because you have to
Speaker 4: finance this.
Speaker 3: So it's like, you, could you tell us what's being
Speaker 3: built here? Is it another Dutch Bros. Or a Starbucks
Speaker 3: or something.
Speaker 2: It's a great question. This is a four tenant building.
Speaker 2: It's all restaurants. Cafe Rio is a Mexican grill with
Speaker 2: a drive through, Marcos, Pizza, Chip which is a cookie company,
Speaker 2: and Jersey Mikes.
Speaker 3: So what happens when your general contractor or whoever it is,
Speaker 3: gets the call from the electrician like, okay, you got
Speaker 3: to wait another year.
Speaker 2: You don't just drive to home depot and buy one
Speaker 2: of these parts. They don't exist. So you really have
Speaker 2: not a lot of great options at that point. And
Speaker 2: so it's been interesting because most of the people that
Speaker 2: are sitting in my seat as the developer have no
Speaker 2: idea what to do. And I mean I have talked
Speaker 2: to probably two or three hundred developers over the last
Speaker 2: two months, you know, a month. As soon as this
Speaker 2: problem became real, I've just started calling every peer I
Speaker 2: know in the space anywhere trying to figure out how
Speaker 2: I can solve the problem. And I would tell you
Speaker 2: that at least half of the people I've talked to
Speaker 2: are building buildings with a very similar power requirement to mine,
Speaker 2: and they might they're not as far along in the
Speaker 2: process as I am, and they're you know, kind of
Speaker 2: content because they're like, well, we don't have that problem.
Speaker 2: Our switch gear is supposed to be here on this day.
Speaker 2: And as I've dove in further on, there is a
Speaker 2: big problem. It's not just me. It's not some micro
Speaker 2: issue for Chris Hatches building. This is a massive issue
Speaker 2: that's impacting the whole you know, all of North America.
Speaker 1: Really there should be more switch gear sympathy in general.
Speaker 1: But Okay, I get that this is incredibly frustrating for you,
Speaker 1: and you know, waiting a whole year for something and
Speaker 1: then being told that actually it's going to be another
Speaker 1: year is kind of crazy. But in terms of the
Speaker 1: actual financial impact, who does that fall on. Is it
Speaker 1: you as the developer, or is it like the retailer
Speaker 1: Dutch Brothers or whoever who might have preleased that space.
Speaker 2: Yeah, in this case, it is the developer that's going
Speaker 2: to take the brunt of that impact. So it's the
Speaker 2: developer being me and my investors that are in the building.
Speaker 2: The good news is we built in a few line
Speaker 2: items and contingency line items. You don't necessarily hope to
Speaker 2: burn through all the contingency line items. And it's hard
Speaker 2: for me to guess when the switch here is going
Speaker 2: to arrive or when I'll be able to source it
Speaker 2: through an alternate means. If I just look at the
Speaker 2: one year out and we sit with this building. My contractor,
Speaker 2: by the way, finished the entire building two fridays ago,
Speaker 2: so they're done with the site. There's nothing left for
Speaker 2: them to do on the building until the switch gear
Speaker 2: gets here.
Speaker 3: So there's this whole complete building that would others be
Speaker 3: totally ready for the Mexican restaurant and the pizza restaurant,
Speaker 3: et cetera to move into. And the one thing that's
Speaker 3: preventing it is this part that could still take another year.
Speaker 2: Yes, and I mean we're just we're not doing anything
Speaker 2: crazy here. We're trying to serve the world. You know,
Speaker 2: tacos and pizza and cookies and sandwiches, right, you know,
Speaker 2: And so if I just sit for one year, you know,
Speaker 2: first off, I'm going to have to go extend my
Speaker 2: loan with the bank for sure, because I don't think
Speaker 2: I have a full year of time. But if they
Speaker 2: allow me to continue on it more or less the
Speaker 2: same terms I'm at today, my dead interest carry just
Speaker 2: my just my interest expense for holding the building for
Speaker 2: a year or one hundred and fifty eight thousand dollars.
Speaker 1: Wait, I still don't understand, like why do we have
Speaker 1: the shortage again? Can you maybe expound on that a
Speaker 1: little bit more? Like what is the bottleneck here? Exactly?
Speaker 1: So okay, switch gears, sure, but like who is making
Speaker 1: these things?
Speaker 4: Yeah?
Speaker 2: Sure? So if you think of it in terms, if
Speaker 2: you start looking at it through first, how the contracting
Speaker 2: typically works. A developer contracts with a general contractor when
Speaker 2: he goes to decide to build a building, and the
Speaker 2: contractor is going to build that building for them. The
Speaker 2: contractor then signs up subcontractors, one of which is an electrician.
Speaker 2: The electrician then signs up through a supply house an
Speaker 2: order that's going to get filled. You know, and what
Speaker 2: they're filling is whatever the developers, you know, electrical engineer
Speaker 2: had specked for the building.
Speaker 1: Right.
Speaker 2: So in this case, it's this sixteen hundred and am
Speaker 2: switch gear and then you know, my five panels that
Speaker 2: I've ordered, and so he's ordering that through a supply
Speaker 2: Here she was ordering that through a supply house, and
Speaker 2: then occasionally a supply house orders through a larger regional
Speaker 2: supply house, and then the regional supply house then orders
Speaker 2: from the manufacturer. Right, So haldful steps, But that's kind
Speaker 2: of how the contracting works.
Speaker 3: That was literally just the description that was this, you
Speaker 3: just walked us through the supply chain.
Speaker 4: Okay, keep going, but that was fantastic, yeah, right.
Speaker 2: So the real of that exists here is that there's
Speaker 2: more or less five big manufacturers of all of this
Speaker 2: electrical gear. So whether you're talking about the panels, or
Speaker 2: the transformers, or the metering equipment or the switch gear,
Speaker 2: all of it, it's all coming more or less from
Speaker 2: five big manufacturers. Semens, Eaten, Color, Hammer, Square D and
Speaker 2: then GE sold off recently there unit a couple of
Speaker 2: years ago, and I can't remember the subsidiary that they've
Speaker 2: sold it to. But those five provide the electrical components.
Speaker 3: When your developer talks to the electrician, or the electrician
Speaker 3: talks to the supply house, or the supply house talks
Speaker 3: of the regional supply house, of the regional supply I
Speaker 3: was talking to the manufacturing Did they give you a reason?
Speaker 3: Do they say what's going on? Or do they explain why? Hey,
Speaker 3: we told you it was going to be April twenty
Speaker 3: twenty four, and now it's going to be April twenty two.
Speaker 4: Do they give you some sort of excuse?
Speaker 1: Or yeah? Can you can you call them up and complain?
Speaker 1: Can you be like an electricity Karen or something like
Speaker 1: what what do you do?
Speaker 2: Yeah, there's not much recourse. I mean, that's that's the downer.
Speaker 2: It's an interesting world. And I don't know why it
Speaker 2: is exactly. And and Joe, you and I were tweeting
Speaker 2: about this or dming about this before the show. But
Speaker 2: for whatever reason, anytime you deal in electrical electrical is
Speaker 2: hand in hand with man'splaining. It doesn't matter what you do,
Speaker 2: somebody's gonna man explain you how you're wrong. And so
Speaker 2: even this podcast episode will come out and hundreds of
Speaker 2: people will man explain, Dared say something or Tracy, Yeah.
Speaker 1: It just I'm sure man explain to me.
Speaker 2: I'm not.
Speaker 1: If a guy explains transformers to another guy doesn't count
Speaker 1: as man explaining.
Speaker 4: Then it's just explaining.
Speaker 1: Explaining in a gender.
Speaker 3: What did I tell you?
Speaker 2: What?
Speaker 3: What's the what's the how do they man explain it to?
Speaker 2: Well? That's the interesting thing. It's it's you know. I
Speaker 2: So I started calling through. I started with my electric
Speaker 2: Then I went to my supply house, and I quickly
Speaker 2: realized my supply house. We have two supply houses in
Speaker 2: the state of Utah, and they're both too small for
Speaker 2: the vast majority of their orders. They order through a
Speaker 2: regional supply house. They don't order direct from the manufacturers,
Speaker 2: and so that's not a very good position to be in.
Speaker 2: And so I started I going to Twitter, I went
Speaker 2: to LinkedIn, I went to colleagues. I started pushing this
Speaker 2: message out and since then, I have spoken to somewhere
Speaker 2: around one hundred people that have told me they have
Speaker 2: a guy or they have somebody that can source the
Speaker 2: materials that you know what I need the switch gear,
Speaker 2: and I've been off phoe with them, and a lot
Speaker 2: of those folks were the regional supply house contacts. And
Speaker 2: here I had to try to not lose my cool
Speaker 2: because multiple times I was talking to somebody the regional
Speaker 2: supply house and my particular order is for Siemens switch gearboard,
Speaker 2: and so the regional supply house person would talk to
Speaker 2: me and say, well, give me your you know, give
Speaker 2: me your spec send them all over to me. I'll
Speaker 2: call the manufacturer, I'll find out where you are in
Speaker 2: the order process, and then I'll call you back and
Speaker 2: tell you if I can move you up, and then
Speaker 2: what it will cost us for, you know, for the
Speaker 2: fee to move you up. And you have to kind
Speaker 2: of not lose your mind right there, because you're looking
Speaker 2: at your supply house saying, why couldn't you move me up?
Speaker 2: Are you not? You don't have the capabilities, you don't
Speaker 2: have the buying power. For what reason can you not
Speaker 2: get this faster? Why do I have to go through
Speaker 2: this alternate path to go somewhere else? And you know,
Speaker 2: it's really just a buying power thing, you know. And
Speaker 2: so this is kind of assessing the problem. So I've
Speaker 2: spent thirty days figuring out what the problem was. I
Speaker 2: feel like I've at least come to some version of
Speaker 2: a conclusion of what this is. And I don't. Look,
Speaker 2: I'm not some end all expert. I have no idea.
Speaker 2: I went to you know, college, and I studied finance.
Speaker 2: I didn't studied electrical supply chains. So nor do I
Speaker 2: totally understand how electrical systems work. I just know that
Speaker 2: I have a building, you know, that's burning, and I've
Speaker 2: got a lot of interest carry every month, and so
Speaker 2: now I'm trying to come up with all t solutions
Speaker 2: for how to get my electrical insight.
Speaker 1: Part of me is amazed that it's now twenty twenty
Speaker 1: four and we are still talking about shortages that are
Speaker 1: this impactful. So, Joe, I remember when we spoke about,
Speaker 1: you know, residential real estate. We would talk about the
Speaker 1: idea that maybe there's like a sink missing or something
Speaker 1: in twenty twenty one or even early twenty twenty two.
Speaker 1: But it is the persistence of this particular shortage is
Speaker 1: kind of mind blowing.
Speaker 2: Yeah.
Speaker 3: I mean, I imagine when you were building buildings like
Speaker 3: in twenty twenty one, I assume, like many others, you
Speaker 3: had multiple shortages of things like is that the case?
Speaker 3: Like was there a time when, like, you know, like
Speaker 3: everything was in scarcity for you. Yeah, and then what
Speaker 3: like so do any of these people that you get
Speaker 3: on the calls like have an exploration for why this
Speaker 3: particular supply chain hasn't caught up?
Speaker 2: Not not really great And so that's had to I
Speaker 2: think I've had to really do a lot of homework
Speaker 2: in other areas to figure out what the problem is.
Speaker 2: But when you start to think through it logically, it
Speaker 2: does start to make sense. I mean, think about the
Speaker 2: amount of electrical vehicle charging stations that have come into
Speaker 2: the country just over the last couple of years here,
Speaker 2: think about the amount of data centers that are going in.
Speaker 2: Think about what the amount of energy requirement has increased
Speaker 2: just with the invention of you know, like chat, GPT
Speaker 2: for example, right and AI, And think about all of
Speaker 2: that is requiring power. You have solar farms going in
Speaker 2: left and right. I mean, all of this stuff ultimately
Speaker 2: all has electrical components, and there are five major manufacturers
Speaker 2: that produce all the electrical components. And so I think
Speaker 2: it literally is just a product through the system problem.
Speaker 2: And I think to totally understand that, you would probably
Speaker 2: need to get somebody you know on the pod here
Speaker 2: from one of those manufacturers by the.
Speaker 3: Way, Tracy, you know obviously we touched on some of
Speaker 3: the stuff recently with our episode with Steve Eisman, like
Speaker 3: some of these like old school industrial players that have
Speaker 3: went to the moon. I just looked up Eaton, which
Speaker 3: I don't think had come up on a previous episode
Speaker 3: is one of the names we talked about. That is
Speaker 3: another stock that basically.
Speaker 4: Looks like in Vidia right now when you look at it.
Speaker 3: Here is this like sleepy stock from a few years
Speaker 3: ago and then now in this great electric era of
Speaker 3: electrification that is like another stock disc gone absolutely to
Speaker 3: the moon.
Speaker 1: It is truly remarkable that there are those sort of
Speaker 1: old school companies out there. I mean, Tractor Supply is
Speaker 1: another one. But these businesses in the business of doing
Speaker 1: these old fashioned things that look like semiconductor stock charts.
Speaker 3: Yeah, it's it's really remarkable. So Chris, you posted on Twitter,
Speaker 3: You're like, someone just goes start a electrical components factory
Speaker 3: in Mexico.
Speaker 4: You get upset up?
Speaker 3: Did anyone take you up on that offer? Is something
Speaker 3: going to get built to expand this capacity that you
Speaker 3: know of?
Speaker 2: There are a number of people that are trying to
Speaker 2: figure it out, I would you know, the obvious statement
Speaker 2: here is that when Siemens is one of the companies
Speaker 2: that you're competing against or I mean, I don't know,
Speaker 2: you've got the stocks in there. I'm not sure what
Speaker 2: the market cap is on Eaton. None of these are
Speaker 2: small companies, right, so I think there's pretty good fear
Speaker 2: from those that are in the manufacturing space that they're.
Speaker 4: That's what Eaton is asked about.
Speaker 2: How do we actually Eaton.
Speaker 3: Is one hundred and thirty nine billion dollar company? Now,
Speaker 3: oh no, no, sorry, Siemens is one hundred and thirty nine
Speaker 3: billion dollar company. Eton is just a oh yeah, it's
Speaker 3: one hundred and twenty five billion dollar Yeah. So these
Speaker 3: are massive company as we're talking about, right.
Speaker 2: So the concept that you're just going to walk out,
Speaker 2: you know, and grab a pe firm that's worth you know,
Speaker 2: twenty thirty billion dollars ago just compete head to head
Speaker 2: against these companies is a little bit intimidating. I'm sure.
Speaker 2: What is interesting is the reason I reference Mexico is
Speaker 2: because one of the possible solutions that's come forward here
Speaker 2: on our building and one of the paths I'm actually
Speaker 2: going down is we have a friend that runs some
Speaker 2: factories and wars and I got on the phone with
Speaker 2: his engineer that runs his five factories. They have like
Speaker 2: six or seven thousand employees, whole bunch of people that
Speaker 2: work for him there, and so these are very large facilities.
Speaker 2: I got on with his engineer, and his engineer reached
Speaker 2: out to his electrician and we have actually sourced the
Speaker 2: exact same semen spect item that's going to come from
Speaker 2: a Mexican supply house that is supposed to deliver in
Speaker 2: eight weeks from today.
Speaker 3: Oh well, this is like I was, this was going
Speaker 3: to be my concluding thought, which is that in any
Speaker 3: business a delay is awful and costly. But it feels
Speaker 3: like when interest rates are as high as they are
Speaker 3: right now, it just sort of compounds the crisis. And so,
Speaker 3: like you know, obviously eight weeks versus year is always
Speaker 3: going to be like a massive difference for anyone in business,
Speaker 3: but with interest rates high, it really is striking the
Speaker 3: degree to which these sort of like supply chain constraints
Speaker 3: and high interest rates are like these like interlocking problems
Speaker 3: that compound each other.
Speaker 2: Yeah, my concern is I have no idea if this
Speaker 2: is gonna show up weeks, you know, So here you are,
Speaker 2: you know, you're setting off a wire for a substantial
Speaker 2: deposit for these units, and you have no idea if
Speaker 2: this is going to show up any faster. Right At
Speaker 2: one point I was told twelve months, and then we
Speaker 2: got to eleven and a half months, and then I
Speaker 2: was told maybe twelve more months, could be longer, don't know,
Speaker 2: And so you know, it's just such an unknown world.
Speaker 2: One of the other things that's causing some constraints on
Speaker 2: the supply as well. So you know, Tracey, you asked
Speaker 2: the question about what's causing the problem, Well, the factories
Speaker 2: is just a throughput issue, I think. But then on
Speaker 2: top of that, you have a number of tenants that
Speaker 2: have identified that this is a big problem. And so
Speaker 2: if you're in hyper expansion, you know, we started talking
Speaker 2: about Dutch Bros. If you're in hyper expansion, it's the
Speaker 2: same switch gear to build the Dutch Bros. Whether you're
Speaker 2: in Arkansas or Florida, or Texas or Utah or wherever
Speaker 2: else you are. So companies like that are going out
Speaker 2: and buying fifty and one hundred switch gears at a time,
Speaker 2: and then they basically what they do is they sell
Speaker 2: me as the developer a switch gear when we're ready
Speaker 2: for the switch gear.
Speaker 1: It's crazy that you have to switch gears because of
Speaker 1: the switchcars.
Speaker 2: Yes, exactly. And then then there's this whole other world.
Speaker 2: There's this whole other world of people, and these are
Speaker 2: a lot of the man's players, for sure. There's this
Speaker 2: whole other world of electricians that have seen this problem
Speaker 2: coming down the line here, and what they've been doing
Speaker 2: now is basically buying parts opportunistically over the last twenty
Speaker 2: four months. And so my switch gear in West Valley
Speaker 2: is sixty two thousand dollars. That's what it costs me
Speaker 2: to order it through from Siemens, and then there's markup
Speaker 2: to the supply house and everybody else involved. But the
Speaker 2: actual unit cost sixty two grand. So that unit I
Speaker 2: have been getting quoted. There are people who are building
Speaker 2: these and they're kind of Frankenstein switchgearboards because they're basically
Speaker 2: piecing anything together they can find to make it work,
Speaker 2: and they're piecing those together and you can usually get
Speaker 2: the power companies sign off on them. The cheapest I've
Speaker 2: seen out of those those folks is three x so
Speaker 2: three times my cost.
Speaker 3: Well, I hope you get your switch gear in eight
Speaker 3: weeks from now.
Speaker 1: Switch Gear and gear.
Speaker 3: Us keep us updated on the journey.
Speaker 1: Lots More is produced by Carmen Rodriguez and dash El Bennett,
Speaker 1: with help from Moses Ondom and Cal Brooks.
Speaker 3: Our sound engineer is Blake Maples. Sage Bauman is the
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Speaker 1: Please rate, review, and subscribe to Odd, Lots and lots
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Speaker 4: Thanks for listening.